Lucid Plans 2026 Midsize EV, Uber Robotaxi Launch But Near-Term Headwinds Linger

Core Insights - Lucid Group, Inc. reported disappointing Q2 results with revenue of $259.4 million, missing analyst estimates of $296.24 million, and a larger-than-expected adjusted loss of 24 cents per share compared to the forecasted loss of 21 cents [1] Group 1: Financial Performance - The company’s Q2 revenue was $259.4 million, falling short of the expected $296.24 million [1] - Lucid posted an adjusted loss of 24 cents per share, exceeding the forecasted loss of 21 cents [1] - The FY25 revenue estimate was lowered to approximately $1.41 billion from roughly $1.43 billion [5] Group 2: Analyst Ratings and Market Outlook - Cantor Fitzgerald analyst Andres Sheppard maintained a Neutral rating on Lucid, citing ongoing challenges such as supply constraints and negative gross margins [2] - The FY25 production estimate was revised down to 18,500 units from 20,000, reflecting updated company guidance [4] - The FY25 delivery estimate was also lowered to 16,650 from 17,000 to remain conservative [5] Group 3: Product and Market Developments - Lucid's Gravity SUV has shown strong vehicle performance, with daily orders nearly doubling since its debut [3] - The company plans to enter the robotaxi market with Uber in late 2026, which is expected to boost customer demand and margins [4] - A midsize platform launch is anticipated in the second half of 2026 [3]